Context:
I'm just starting out as an SWE with a TC of 150K bay area. I have paid off almost 80% of my total student loan of 30K. I'll pay off the rest in 2-3 months down the line. I'm single and have no other debt except 1-1.5K monthly credit card rolling debts that I clear every month.
I'm now looking at investment options. I've researched as much as I could from the free resources available online.
401K, Roth IRA, Mutual funds, stocks, etc is what I'm looking at rn.
Ask: I'd like to know from someone who's invested for atleast 5-6 years now and have some considerable amount invested - what's a good plan for someone in their late 20s to start?
Any online resources/YouTube channel (like Dave Ramsey) that you found useful.
Any paid service that could help learn/guide in investment that proved great for you.
Basically anything that has worked for you and isn't just a theory - shoot that.
PS: As soon as something gets posted on blind, there are many who contaminate the post with unhelpful judgemental comments on the grammar, how "it's schoOl and not schOol" kinda stuff, please don't on this one.
#investments #swe #mutualfund #20s #personalfinance
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comments
Importantly I would never buy stocks directly, or puts or calls with duration shorter than a year.
If Fed raises interest rates, the bubble might crash but it's unlikely.
I max my Roth IRA and will start maxing the 401k when I can afford it. Right now 15% of gross goes into retirement.
After that, 18% of gross goes into long term savings, with a plan to buy rental real eatate in CA. I have that in the a mutual fund (TRBCX)
Only debts I carry are student loans and mortgage. They are substantial, but work for tax writeoffs and my earnings have been consistently higher than interest.
TC: 120k